SASOL LIMITED
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SOL

Sasol SOL 40331c - Zooming out. Upside gap at 40842c could be closed first however downside risk if 40200c is lost.

An unfilled gap at 40842c, created by Monday's open may be closed however, the incline support extending back to the 20 December 2021 lows should be monitored for a potential 'failure to hold'. The share also trades at the lower boundary of a rising wedge/channel, which if breached, could see lower levels being tested. One possibility is the lower boundary of the large channel (two parallel white lines) where the price target is approximately R360 to R370. The gap is also at average of 8 21-EMA, both of which are losing upside momentum. Also note, the price (40331c) appears extended vs it's quarterly pivot of 34015c.

The white arrow represents the potential price path.

Key risk level: R402

Sell on a break below: 40200c (Strong offers would be added confirmation of deteriorating price weakness and /or bearish reversal)
Stop-loss: 41330c
Target: 37400c
Chart PatternsTechnical IndicatorsTrend Analysis

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